Part II Prime Minister, Speaker and Lord Chancellor
26 Pensions of Prime Minister and Speaker.
1
Any person who has (whether before or after the passing of this Act) been appointed Prime Minister and First Lord of the Treasury or elected Speaker of the House of Commons and has after 1st April 1972 (whether before of after the passing of this Act) ceased to be Prime Minister and First Lord of the Treasury, or ceased to be Speaker, as the case may be, shall, subject to the next following subsection, be entitled to receive a pension under this section.
2
No pension shall be payable under this section to any person so long as he is in receipt of any salary payable out of the Consolidated Fund or out of the revenues of the Duchy of Lancaster, or so long as he is in receipt of any salary payable out of moneys provided by Parliament other than a salary or allowance payable out of moneys so provided in respect of his membership of the House of Commons.
F1C13
Subject to section 31 of this Act, the annual amount of a pension payable to a person under this section in respect of the office of Prime Minister and First Lord of the Treasury shall be equal to one-half of the annual amount of the salary payable in respect of that office at the time when that person ceases to hold it.
4
Subject to section 31 of this Act, the annual amount of a pension payable to a person under this section in respect of the office of Speaker of the House of Commons shall be equal to one-half of the annual amount of the salary payable in respect of that office at the time when that person ceases to hold it.
5
Any pension payable under this section shall be charged on and paid out of the Consolidated Fund.
C227 Pensions for dependants of Prime Minister or Speaker.
1
In relation to a person who has held office as Prime Minister and First Lord of the Treasury or as Speaker of the House of Commons at any time after 1st April 1972 (whether before or after the passing of this Act) and has died (whether before or after the passing of this Act) F5the designated provisions shall have effect as if—
a
at the time of his death that person had been entitled in respect of service as a Member of the House of Commons to receive a pension payable under the provisions of the Parliamentary pension scheme out of the Parliamentary Contributory Pension Fund;
b
the annual amount of that pension had been an amount equal to the annual amount of such pension calculated in accordance with subsection (3) or (in the case of a person who held office as Speaker) subsection (4) of section 26 of this Act as would have been payable to him at the time of his death if he had ceased to hold office immediately before his death and subsection (2) of that section and section 31 of this Act were disregarded; and
c
references in the designated provisions to the trustees of the Fund were references to the Treasury.
2
For the purposes of subsection (1) above the designated provisions are such of the provisions contained in the Parliamentary pension scheme as—
a
have effect for the purposes of, or in connection with, the payment out of the Parliamentary Contributory Pension Fund of a pension in respect of service as a Member of the House of Commons—
i
to the widow or widower of a person with such service; or
ii
for the benefit of any children of any person; and
b
are designated for the purposes of this section by regulations made by the Leader of the House of Commons.
2A
The power to make regulations designating any provisions for the purposes of this section shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
3
Any pension payable under this section shall be charged on and paid out of the Consolidated Fund.
F64
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F75
In this section—
“children” includes adopted children, stepchildren and illegitimate children; and
“the Leader of the House of Commons” and “the Parliamentary pension scheme” have the same meanings as in the Parliamentary and other Pensions Act 1987.
28 Pension of Lord Chancellor.
F21
Subject to section 31 of this Act, the annual amount of any pension granted under section 3 of the Lord Chancellor’s Pension Act 1832 shall, in the case of a person resigning the office of Lord Chancellor, be equal to the aggregate of one-half of the annual amount of the salary payable in respect of his tenure of that office and one-half of the annual amount of the salary payable to him as Speaker of the House of Lords at the time when he ceases to hold those offices.
X12
In accordance with the preceding subsection section 3 of the M1Lord Chancellor’s Pension Act 1832 shall be amended by substituting, for the words “£6,250 of lawful money of Great Britain” and for the words “the sum of £6,250”, the words “an amount calculated in accordance with subsection (1) of section 28 of the Parliamentary and other Pensions Act 1972 and the provisions (other than this Act) referred to in that subsection.”
3
Any Letters Patent issued under that Act before the passing of this Act shall have effect subject to subsection (1) of this section.